(Article updated with information about televangelists obtaining loans from mafia-connected individuals.)
The three-episode Discovery+ documentary series King of the Con tells the life story Barry Minkow, an infamous conman turned pastor, who subsequently robbed a church of $3 million dollars. The Bible warns of people like Minkow, “As a dog returns to its vomit, so fools repeat their folly.” – Proverbs 26:11 NIV
Minkow’s life could serve as a playbook for corrupt televangelists as so many of the same techniques are repeatedly used.
Through interviews Minkow describes how he rationalized his criminal behavior. “Looking back, it sounds crazy but at the time I really didn’t think it was so bad.”
As a teenager, Minkow started ZZZZ Best, a carpet cleaning company, in Inglewood, a small city near Los Angeles. When he was 19 years old, ZZZZ Best went public. As investors purchased stocks, the company’s value soared and a year later was worth $280 million. (Wikipedia provides a good overview of Minkow’s crimes.)
Minkow hired publicist Jeri Carr to promote his company. Local media enjoyed telling the story of a high school student launching a successful business. Carr and the media didn’t know that Minkow was also operating an illegal insurance restoration scheme. Insurance companies were billed for work that was never performed.
Early in the history in ZZZZ Best, Minkow needed funding to grow and turned to mafia-connected Jack Catain for a loan. The mafia generated large profits by loan sharking which is providing high-interest loans to people and businesses that banks considered too risky to serve. This may surprise many Christians but at least two televangelists have received loans from mafia-connected figures.
In his autobiography The Soul-Winning Century, Rex Humbard revealed how he received a loan from Jimmy Hoffa, the infamous president of the Teamsters. The union’s pension fund also financed criminal enterprises as Hoffa made lucrative loans to mafia, according to Harvard law professor Jack Goldsmith.
Robert Tilton’s church obtained a loan from Herman Beebe, an associate of Carlos Marcello, former head of the New Orleans mafia. In 1993, Tilton testified about the loan in federal court, “After we had gotten the loan from his insurance company we began to hear rumors and people saying that when you borrowed money from these particular people, that if you missed a payment they were prone to come and take over your properties, and that they were the type of people that we did not want to have any type of association with, and so we paid the loan off as quickly as possible.”
After ZZZZ Best’s Ponzi scheme collapsed following critical news coverage and a federal investigation, a jury convicted Minkow of fraud.
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